0001318148-13-000697.txt : 20130412 0001318148-13-000697.hdr.sgml : 20130412 20130412100101 ACCESSION NUMBER: 0001318148-13-000697 CONFORMED SUBMISSION TYPE: 485BPOS PUBLIC DOCUMENT COUNT: 7 FILED AS OF DATE: 20130412 DATE AS OF CHANGE: 20130412 EFFECTIVENESS DATE: 20130412 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FEDERATED U S GOVERNMENT SECURITIES FUND 2-5 YEARS CENTRAL INDEX KEY: 0000357159 IRS NUMBER: 251408834 STATE OF INCORPORATION: MA FISCAL YEAR END: 0131 FILING VALUES: FORM TYPE: 485BPOS SEC ACT: 1933 Act SEC FILE NUMBER: 002-75769 FILM NUMBER: 13757714 BUSINESS ADDRESS: STREET 1: 4000 ERICSSON DRIVE CITY: WARRENDALE STATE: PA ZIP: 15086-7561 BUSINESS PHONE: 8003417400 MAIL ADDRESS: STREET 1: 4000 ERICSSON DRIVE CITY: WARRENDALE STATE: PA ZIP: 15086-7561 FORMER COMPANY: FORMER CONFORMED NAME: FEDERATED US GOVERNMENT SECURITIES FUND 2-5 YEARS DATE OF NAME CHANGE: 19950424 FORMER COMPANY: FORMER CONFORMED NAME: FEDERATED INTERMEDIATE GOVERNMENT TRUST DATE OF NAME CHANGE: 19920703 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FEDERATED U S GOVERNMENT SECURITIES FUND 2-5 YEARS CENTRAL INDEX KEY: 0000357159 IRS NUMBER: 251408834 STATE OF INCORPORATION: MA FISCAL YEAR END: 0131 FILING VALUES: FORM TYPE: 485BPOS SEC ACT: 1940 Act SEC FILE NUMBER: 811-03387 FILM NUMBER: 13757715 BUSINESS ADDRESS: STREET 1: 4000 ERICSSON DRIVE CITY: WARRENDALE STATE: PA ZIP: 15086-7561 BUSINESS PHONE: 8003417400 MAIL ADDRESS: STREET 1: 4000 ERICSSON DRIVE CITY: WARRENDALE STATE: PA ZIP: 15086-7561 FORMER COMPANY: FORMER CONFORMED NAME: FEDERATED US GOVERNMENT SECURITIES FUND 2-5 YEARS DATE OF NAME CHANGE: 19950424 FORMER COMPANY: FORMER CONFORMED NAME: FEDERATED INTERMEDIATE GOVERNMENT TRUST DATE OF NAME CHANGE: 19920703 0000357159 S000009041 FEDERATED U S GOVERNMENT SECURITIES FUND 2-5 YEARS C000024571 Class R Shares FIGKX C000024572 Institutional Shares FIGTX C000024573 Service Shares FIGIX 485BPOS 1 form.htm

1933 Act File No. 2-75769
1940 Act File No. 811-3387

 

Form N-1A

 

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

 

REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933  
       
  Pre-Effective Amendment No.    
       
  Post-Effective Amendment No.   50
 
and/or
   
REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940  
       
  Amendment No.   44
         

 

 

 

FEDERATED U.S. GOVERNMENT SECURITIES FUND: 2-5

(Exact Name of Registrant as Specified in Charter)

 

Federated Investors Funds

4000 Ericsson Drive

Warrendale, PA 15086-7561

(Address of Principal Executive Offices)

 

(412) 288-1900

(Registrant’s Telephone Number, including Area Code)

 

John W. McGonigle, Esquire

Federated Investors Tower

Pittsburgh, Pennsylvania 15222-3779

(Name and Address of Agent for Service)

 

 

It is proposed that this filing will become effective (check appropriate box):
   
X immediately upon filing pursuant to paragraph (b)
  pursuant to paragraph (b)
  60 days after filing pursuant to paragraph (a)(1)
  on   pursuant to paragraph (a)(1)
  75 days after filing pursuant to paragraph (a)(2)
  on   pursuant to paragraph (a)(2) of Rule 485
 
If appropriate, check the following box:
   
  This post-effective amendment designates a new effective date for a previously filed post-effective amendment.

 

 

 

 

 

SIGNATURES

Pursuant to the requirements of the Securities Act of 1933, and the Investment Company Act of 1940, the Registrant, FEDERATED U.S. GOVERNMENT SECURITIES FUND: 2-5 YEARS, certifies that it meets all of the requirements for effectiveness of this Amendment to its Registration Statement pursuant to Rule 485(b) under the Securities Act of 1933 and has duly caused this Amendment to its Registration Statement to be signed on its behalf by the undersigned, duly authorized, in the City of Pittsburgh and Commonwealth of Pennsylvania, on the 12th day of April, 2013.

FEDERATED U.S. GOVERNMENT SECURITIES FUND: 2-5 YEARS

BY: /s/ Gail C. Jones

Gail C. Jones, Assistant Secretary

Pursuant to the requirements of the Securities Act of 1933, this Amendment to its Registration Statement has been signed below by the following person in the capacity and on the date indicated:

 

NAME TITLE DATE

BY: /s/ Gail C. Jones

Gail C. Jones,
Assistant Secretary

Attorney In Fact For the Persons Listed Below April 12, 2013
John F. Donahue * Trustee  
Lori A. Hensler* Treasurer (Principal Financial Officer)  
John F. Cunningham* Trustee  
Peter E. Madden* Trustee  
Charles F. Mansfield, Jr.* Trustee  
Thomas O’Neill* Trustee  
John S. Walsh* Trustee  
*By Power of Attorney    

 

 
 

 

Federated U.S. Government Securities Fund: 2-5 Years

Post-Effective Amendment No. 48

 

This Post-Effective Amendment is filed for the sole purpose of submitting the XBRL Interactive Data File exhibits for the Risk/Return Summary of the above-named Fund filed as part of Post-Effective Amendment No. 47 on March 29, 2012.  The exhibits filed herewith do not constitute the complete publicly filed disclosure for the Fund, and should be used in conjunction with the complete prospectus for the Fund.

 

Exhibit List for Interactive Data File Submissions.

 

 

EX-101.INS INSTANCE
EX-101.SCH SCHEMA
EX-101.CAL CALCULATION LINKBASE
EX-101.DEF DEFINITION LINKBASE
EX-101.LAB LABEL LINKBASE
EX-101.PRE PRESENTATION LINKBASE

 

EX-101.INS 2 fusgsf25y-20130327.xml XBRL INSTANCE FILE 0000357159 fusgsf25y:S000009041Member 2012-04-01 2013-03-31 0000357159 2012-04-01 2013-03-31 0000357159 fusgsf25y:S000009041Member fusgsf25y:C000024572Member 2012-04-01 2013-03-31 0000357159 fusgsf25y:S000009041Member fusgsf25y:C000024571Member 2012-04-01 2013-03-31 0000357159 fusgsf25y:S000009041Member fusgsf25y:C000024573Member 2012-04-01 2013-03-31 0000357159 fusgsf25y:S000009041Member rr:AfterTaxesOnDistributionsMember fusgsf25y:C000024572Member 2012-04-01 2013-03-31 0000357159 fusgsf25y:S000009041Member rr:AfterTaxesOnDistributionsAndSalesMember fusgsf25y:C000024572Member 2012-04-01 2013-03-31 0000357159 fusgsf25y:S000009041Member fusgsf25y:LipperShortUsTreasuryFundsAverageMember 2012-04-01 2013-03-31 0000357159 fusgsf25y:S000009041Member fusgsf25y:BofaMerrillLynchThreeFiveYearTreasuryIndexMember 2012-04-01 2013-03-31 0000357159 fusgsf25y:S000009041Member fusgsf25y:LipperShortIntermediateUsGovernmentFundsAverageMember 2012-04-01 2013-03-31 pure iso4217:USD <div style="display:none">~ http://www.federatedinvestors.com/role/ScheduleShareholderFeesFEDERATEDUSGOVERNMENTSECURITIESFUND2-5YEARS column period compact * ~</div> <div style="display:none">~ http://www.federatedinvestors.com/role/ScheduleAnnualFundOperatingExpensesFEDERATEDUSGOVERNMENTSECURITIESFUND2-5YEARS column period compact * ~</div> <div style="display:none">~ http://www.federatedinvestors.com/role/ScheduleExpenseExampleTransposedFEDERATEDUSGOVERNMENTSECURITIESFUND2-5YEARS column period compact * ~</div> <div style="display:none">~ http://www.federatedinvestors.com/role/ScheduleAnnualTotalReturnsFEDERATEDUSGOVERNMENTSECURITIESFUND2-5YEARSBarChart column period compact * ~</div> <div style="display:none">~ http://www.federatedinvestors.com/role/ScheduleAverageAnnualTotalReturnsTransposedFEDERATEDUSGOVERNMENTSECURITIESFUND2-5YEARS column period compact * ~</div> 485BPOS FEDERATED U S GOVERNMENT SECURITIES FUND 2-5 YEARS 0000357159 2013-03-31 2013-01-31 false 2013-03-27 2013-03-28 <b>Federated U.S. Government Securities Fund: 2-5 Years (the "Fund")</b> <b>RISK/RETURN SUMMARY: INVESTMENT OBJECTIVE</b> The Fund's investment objective is current income. <b>RISK/RETURN SUMMARY: FEES AND EXPENSES</b> This table describes the fees and expenses that you may pay if you buy and hold Class R Shares (R), Institutional Shares (IS) and Service Shares (SS) of the Fund. <b>Shareholder Fees (fees paid directly from your investment)</b> <b>Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)</b> <b>Portfolio Turnover</b> The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund Shares are held in a taxable account. These costs, which are not reflected in Annual Fund Operating Expenses or in the Example, affect the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 187% of the average value of its portfolio. <b>Example</b> This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.<br/><br/>The Example assumes that you invest $10,000 for the time periods indicated and then redeem all of your Shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that operating expenses are as shown in the table above and remain the same. Although your actual costs and returns may be higher or lower, based on these assumptions your costs would be: <b>RISK/RETURN SUMMARY: INVESTMENTS, RISKS and PERFORMANCE<br/><br/>What are the Fund's Main Investment Strategies?</b> The Fund's overall strategy is generally to invest in a portfolio consisting of U.S. Treasury securities and U.S. government agency securities with maturities of not less than two years and not more than five years. The Fund may also use derivative contracts and/or hybrid instruments to implement elements of it strategies. The Fund buys and sells portfolio securities based primarily on its market outlook and analysis of how securities may perform under different market conditions. The Fund evaluates its investment strategy by comparing the performance and composition of the Fund's portfolio to the performance and composition of Bank of America Merrill Lynch 3-5 Year Treasury Index, an index composed of U.S. Treasury notes and bonds with maturities greater than or equal to three years and less than five years.<br/><br/>U.S. government securities also may be offered on a delayed delivery basis. The Fund will enter into delayed delivery transactions, including when-issued transactions, in order to participate in these offerings or trade these securities. The Fund may also seek to increase its income by lending its portfolio securities.<br/><br/>Certain of the government securities in which the Fund invests are not backed by the full faith and credit of the U.S. government, such as those issued by the Federal Home Loan Mortgage Corporation (Freddie Mac), the Federal National Mortgage Association (Fannie Mae), and the Federal Home Loan Bank System. These entities are, however, supported through federal subsidies, loans or other benefits. The Fund may also invest in government securities that are supported by the full faith and credit of the U.S. government, such as those issued by the Government National Mortgage Association (Ginnie Mae). Finally, the Fund may invest in a few government securities that have no explicit financial support, but which are regarded as having implied support because the federal government sponsors their activities.<br/><br/> The Fund may also purchase bonds from the U.S. government backed by the Federal Deposit Insurance Corporation (FDIC).<br/><br/> During extreme market conditions such as a zero yield environment, the Fund may invest in government mortgage-backed securities as a temporary investment. The government mortgage-backed securities in which the Fund may invest are government mortgage-backed securities such as those issued by Ginnie Mae, Fannie Mae and Freddie Mac.<br/><br/> Because the Fund refers to U.S. government securities in its name, it will notify shareholders at least 60 days in advance of any change in its investment policies that would enable the Fund to invest, under normal circumstances, less than 80% of its assets (plus any borrowings for investment purposes) in U.S. government investments. <b>What are the Main Risks of Investing in the Fund?</b> <b>Performance: Bar Chart and Table<br/><br/>Risk/Return Bar Chart</b> The bar chart and performance table below reflect historical performance data for the Fund and are intended to help you analyze the Fund's investment risks in light of its historical returns. The bar chart shows the variability of the Fund's IS class total returns on a calendar year-by-year basis. The Average Annual Total Return Table shows returns for each class averaged over the stated periods, and includes comparative performance information. The Fund's performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results. Updated performance information for the Fund is available under the "Products" section at FederatedInvestors.com or by calling 1-800-341-7400. Federated U.S. Government Securities Fund: 2-5 Years - IS Class Within the periods shown in the bar chart, the Fund's IS class highest quarterly return was 6.20% (quarter ended December 31, 2008). Its lowest quarterly return was (2.44)% (quarter ended June 30, 2004). <b>Average Annual Total Return Table</b> In addition to Return Before Taxes, Return After Taxes is shown for the Fund's IS class to illustrate the effect of federal taxes on Fund returns. After-tax returns are shown only for IS class, and after-tax returns for R and SS classes will differ from those shown for IS class. Actual after-tax returns depend on each investor's personal tax situation, and are likely to differ from those shown. After-tax returns are calculated using a standard set of assumptions. The stated returns assume the highest historical<b> federal</b> income and capital gains tax rates. These after-tax returns do <b>not</b> reflect the effect of any applicable <b>state</b> and <b>local</b> taxes. After-tax returns are not relevant to investors holding Shares through a 401(k) plan, an Individual Retirement Account or other tax-advantaged investment plan.<br/><br/>(For the Period Ended December 31, 2012) April 1, 2014 up to but not including the later of (the "Termination Date"): (a) April 1, 2014; or (b) the date of the Fund's next effective Prospectus. 1.87 All mutual funds take investment risks. Therefore, it is possible to lose money by investing in the Fund. The Shares offered by this Prospectus are not deposits or obligations of any bank, are not endorsed or guaranteed by any bank and are not insured or guaranteed by the U.S. government, the Federal Deposit Insurance Corporation, the Federal Reserve Board or any other government agency. The bar chart shows the variability of the Fund's IS class total returns on a calendar year-by-year basis. 1-800-341-7400 FederatedInvestors.com The Fund's performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results. After-tax returns are calculated using a standard set of assumptions. The stated returns assume the highest historical <b>federal</b> income and capital gains tax rates. These after-tax returns do <b>not</b> reflect the effect of any applicable <b>state</b> and <b>local</b> taxes. After-tax returns are not relevant to investors holding Shares through a 401(k) plan, an Individual Retirement Account or other tax-advantaged investment plan. After-tax returns are shown only for IS class, and after-tax returns for R and SS classes will differ from those shown for IS class. highest quarterly return 2008-12-31 0.062 lowest quarterly return 2004-06-30 -0.0244 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0.004 0.004 0.004 0 0.005 0.0005 0.0045 0.0045 0.0029 0.0085 0.009 0.0119 0 -0.0027 -0.0009 0.0058 0.0081 0.0119 121 87 92 271 378 287 498 471 654 1049 1443 1108 0.0222 0.016 0.0087 0.0334 0.0918 0.1064 0.0028 0.0426 0.0467 0.0116 0.0043 0.0116 0.0042 0.0082 0.0093 0.0032 0.0158 0.0172 0.0414 0.0341 0.0286 0.0283 0.039 0.049 0.0186 0.0386 0.0331 0.0228 0.0431 0.0352 0.0245 0.0377 0.0304 0.0243 All mutual funds take investment risks. Therefore, it is possible to lose money by investing in the Fund. The primary factors that may reduce the Fund's returns include:<ul type="square"><li style="margin-left:-20px"><b>Interest Rate Risk. </b>Prices of fixed-income securities generally fall when interest rates rise, which may result in a decrease in the value of Fund Shares.</li></ul> <ul type="square"><li style="margin-left:-20px"><b>Liquidity Risk. </b>Trading opportunities are more limited for fixed-income securities that have not received any credit ratings, have received ratings below investment grade or are not widely held. These features may make it more difficult to sell or buy a security at a favorable price or time. Consequently, the Fund may have to accept a lower price to sell a security, sell other securities to raise cash or give up an investment opportunity, any of which could have a negative effect on the Fund's performance. Infrequent trading of securities may also lead to an increase in their price volatility. Liquidity risk also refers to the possibility that the Fund may not be able to sell a security or close out a derivative contract when it wants to. If this happens, the Fund will be required to continue to hold the security or keep the position open, and the Fund could incur losses. Over-the-counter (OTC) derivative contracts generally carry greater liquidity risk than exchange-traded contracts.</li></ul> <ul type="square"><li style="margin-left:-20px"><b>Leverage Risk. </b>Leverage risk is created when an investment, which includes, for example, an investment in a derivative contract, exposes the Fund to a level of risk that exceeds the amount invested. Changes in the value of such an investment magnify the Fund's risk of loss and potential for gain. Investments can have these same results if their returns are based on a multiple of a specified index, security or other benchmark.</li></ul> <ul type="square"><li style="margin-left:-20px"><b>Risk of Investing in Derivative Contracts and Hybrid Instruments. </b>Derivative contracts and hybrid instruments involve risks different from, or possibly greater than, risks associated with investing directly in securities and other traditional investments. Specific risk issues related to the use of such contracts and instruments include valuation and tax issues, increased potential for losses and/or costs to the Fund and a potential reduction in gains to the Fund. Each of these issues is described in greater detail in this Prospectus. Derivative contracts and hybrid instruments may also involve other risks described in this Prospectus or the Fund's Statement of Additional Information (SAI), such as interest rate, credit, liquidity and leverage risks.</li></ul> <ul type="square"><li style="margin-left:-20px"><b>Risk of Investing in Inflation-Protected Securities. </b>The value of inflation-protected securities is subject to the effects of changes in market interest rates caused by factors other than inflation ("real interest rates"). If interest rates rise due to reasons other than inflation, the Fund's investment in these securities may not be protected to the extent that the increase is not reflected in the security's inflation measure. Generally, when real interest rates rise, the value of inflation-protected securities will fall and the Fund's value may decline as a result of this exposure to these securities. The greatest risk occurs when interest rates rise and inflation declines.</li></ul> <ul type="square"><li style="margin-left:-20px"><b>Prepayment Risk. </b>When homeowners prepay their mortgages in response to lower interest rates, the Fund will be required to reinvest the proceeds at the lower interest rates available. Also, when interest rates fall, the price of mortgage-backed securities may not rise to as great an extent as that of other fixed-income securities.</li></ul> <ul type="square"><li style="margin-left:-20px"><b>Credit Risk. </b>It is possible that interest or principal on securities will not be paid when due. Such non-payment or default may reduce the value of the Fund's portfolio holdings, its share price and its performance.</li></ul> <ul type="square"><li style="margin-left:-20px"><b>Mortgage-Backed Securities Risk. </b>Mortgage-backed securities (MBS) have unique risks. A rise in interest rates may cause the value of MBS held by the Fund to decline. MBS are subject to the risk that payments made on a security will not be made when due. Certain MBS issued by U.S. government-sponsored enterprises are not backed by the full faith and credit of the U.S. government.</li></ul> <ul type="square"><li style="margin-left:-20px"><b>Technology Risk. </b>Proprietary and third party data and systems are utilized to support decision making for the Fund. Data imprecision, software or other technology malfunctions, programming inaccuracies and similar circumstances may impair the performance of these systems, which may negatively affect Fund performance.</li></ul> The Shares offered by this Prospectus are not deposits or obligations of any bank, are not endorsed or guaranteed by any bank and are not insured or guaranteed by the U.S. government, the Federal Deposit Insurance Corporation, the Federal Reserve Board or any other government agency. Total Annual Fund Operating Expenses for the Fund's R class have been restated to reflect an anticipated decrease in Other Expenses. Total Annual Fund Operating Expenses for the Fund's R class have been restated to reflect an anticipated decrease in Other Expenses. Effective April 1, 2013, the Adviser and its affiliates have voluntarily agreed to waive their fees and/or reimburse expenses so that the total annual fund operating expenses (excluding Acquired Fund Fees and Expenses, if any) paid by the Fund's R, IS and SS classes (after the voluntary waivers and/or reimbursements) will not exceed 1.22%, 0.58% and 0.81% (the "Fee Limit"), respectively, up to but not including the later of (the "Termination Date"): (a) April 1, 2014; or (b) the date of the Fund's next effective Prospectus. While the Adviser and its affiliates currently do not anticipate terminating or increasing these arrangements prior to the Termination Date, these arrangements may only be terminated or the Fee Limit increased prior to the Termination Date with the agreement of the Fund's Board of Trustees. BofA Merrill Lynch 3-5 Year Treasury Index is an unmanaged index tracking U.S. treasury securities with maturities of 3 to 4.99 years. Lipper Short U.S. Treasury Funds Average is an average of funds with similar investment objectives. Lipper Short-Intermediate U.S. Government Funds Average is an average of funds with similar investment objectives. 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Risk/Return: rr_RiskReturnAbstract  
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Prospectus Date rr_ProspectusDate Mar. 31, 2013
Document Creation Date dei_DocumentCreationDate Mar. 27, 2013
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Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName FEDERATED U S GOVERNMENT SECURITIES FUND 2-5 YEARS
Prospectus Date rr_ProspectusDate Mar. 31, 2013
FEDERATED U S GOVERNMENT SECURITIES FUND 2-5 YEARS
 
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading Federated U.S. Government Securities Fund: 2-5 Years (the "Fund")
Objective [Heading] rr_ObjectiveHeading RISK/RETURN SUMMARY: INVESTMENT OBJECTIVE
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock The Fund's investment objective is current income.
Expense [Heading] rr_ExpenseHeading RISK/RETURN SUMMARY: FEES AND EXPENSES
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock This table describes the fees and expenses that you may pay if you buy and hold Class R Shares (R), Institutional Shares (IS) and Service Shares (SS) of the Fund.
Shareholder Fees Caption [Text] rr_ShareholderFeesCaption Shareholder Fees (fees paid directly from your investment)
Operating Expenses Caption [Text] rr_OperatingExpensesCaption Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination April 1, 2014
Fee Waiver or Reimbursement Over Assets, Later of Termination or Next Effective Prospectus fusgsf25y_FeeWaiverOrReimbursementOverAssetsLaterOfTerminationOrNextEffectiveProspectus up to but not including the later of (the "Termination Date"): (a) April 1, 2014; or (b) the date of the Fund's next effective Prospectus.
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading Portfolio Turnover
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund Shares are held in a taxable account. These costs, which are not reflected in Annual Fund Operating Expenses or in the Example, affect the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 187% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 187.00%
Expenses Restated to Reflect Current [Text] rr_ExpensesRestatedToReflectCurrent Total Annual Fund Operating Expenses for the Fund's R class have been restated to reflect an anticipated decrease in Other Expenses.
Expense Example [Heading] rr_ExpenseExampleHeading Example
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

The Example assumes that you invest $10,000 for the time periods indicated and then redeem all of your Shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that operating expenses are as shown in the table above and remain the same. Although your actual costs and returns may be higher or lower, based on these assumptions your costs would be:
Strategy [Heading] rr_StrategyHeading RISK/RETURN SUMMARY: INVESTMENTS, RISKS and PERFORMANCE

What are the Fund's Main Investment Strategies?
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock The Fund's overall strategy is generally to invest in a portfolio consisting of U.S. Treasury securities and U.S. government agency securities with maturities of not less than two years and not more than five years. The Fund may also use derivative contracts and/or hybrid instruments to implement elements of it strategies. The Fund buys and sells portfolio securities based primarily on its market outlook and analysis of how securities may perform under different market conditions. The Fund evaluates its investment strategy by comparing the performance and composition of the Fund's portfolio to the performance and composition of Bank of America Merrill Lynch 3-5 Year Treasury Index, an index composed of U.S. Treasury notes and bonds with maturities greater than or equal to three years and less than five years.

U.S. government securities also may be offered on a delayed delivery basis. The Fund will enter into delayed delivery transactions, including when-issued transactions, in order to participate in these offerings or trade these securities. The Fund may also seek to increase its income by lending its portfolio securities.

Certain of the government securities in which the Fund invests are not backed by the full faith and credit of the U.S. government, such as those issued by the Federal Home Loan Mortgage Corporation (Freddie Mac), the Federal National Mortgage Association (Fannie Mae), and the Federal Home Loan Bank System. These entities are, however, supported through federal subsidies, loans or other benefits. The Fund may also invest in government securities that are supported by the full faith and credit of the U.S. government, such as those issued by the Government National Mortgage Association (Ginnie Mae). Finally, the Fund may invest in a few government securities that have no explicit financial support, but which are regarded as having implied support because the federal government sponsors their activities.

The Fund may also purchase bonds from the U.S. government backed by the Federal Deposit Insurance Corporation (FDIC).

During extreme market conditions such as a zero yield environment, the Fund may invest in government mortgage-backed securities as a temporary investment. The government mortgage-backed securities in which the Fund may invest are government mortgage-backed securities such as those issued by Ginnie Mae, Fannie Mae and Freddie Mac.

Because the Fund refers to U.S. government securities in its name, it will notify shareholders at least 60 days in advance of any change in its investment policies that would enable the Fund to invest, under normal circumstances, less than 80% of its assets (plus any borrowings for investment purposes) in U.S. government investments.
Risk [Heading] rr_RiskHeading What are the Main Risks of Investing in the Fund?
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock All mutual funds take investment risks. Therefore, it is possible to lose money by investing in the Fund. The primary factors that may reduce the Fund's returns include:
  • Interest Rate Risk. Prices of fixed-income securities generally fall when interest rates rise, which may result in a decrease in the value of Fund Shares.
  • Liquidity Risk. Trading opportunities are more limited for fixed-income securities that have not received any credit ratings, have received ratings below investment grade or are not widely held. These features may make it more difficult to sell or buy a security at a favorable price or time. Consequently, the Fund may have to accept a lower price to sell a security, sell other securities to raise cash or give up an investment opportunity, any of which could have a negative effect on the Fund's performance. Infrequent trading of securities may also lead to an increase in their price volatility. Liquidity risk also refers to the possibility that the Fund may not be able to sell a security or close out a derivative contract when it wants to. If this happens, the Fund will be required to continue to hold the security or keep the position open, and the Fund could incur losses. Over-the-counter (OTC) derivative contracts generally carry greater liquidity risk than exchange-traded contracts.
  • Leverage Risk. Leverage risk is created when an investment, which includes, for example, an investment in a derivative contract, exposes the Fund to a level of risk that exceeds the amount invested. Changes in the value of such an investment magnify the Fund's risk of loss and potential for gain. Investments can have these same results if their returns are based on a multiple of a specified index, security or other benchmark.
  • Risk of Investing in Derivative Contracts and Hybrid Instruments. Derivative contracts and hybrid instruments involve risks different from, or possibly greater than, risks associated with investing directly in securities and other traditional investments. Specific risk issues related to the use of such contracts and instruments include valuation and tax issues, increased potential for losses and/or costs to the Fund and a potential reduction in gains to the Fund. Each of these issues is described in greater detail in this Prospectus. Derivative contracts and hybrid instruments may also involve other risks described in this Prospectus or the Fund's Statement of Additional Information (SAI), such as interest rate, credit, liquidity and leverage risks.
  • Risk of Investing in Inflation-Protected Securities. The value of inflation-protected securities is subject to the effects of changes in market interest rates caused by factors other than inflation ("real interest rates"). If interest rates rise due to reasons other than inflation, the Fund's investment in these securities may not be protected to the extent that the increase is not reflected in the security's inflation measure. Generally, when real interest rates rise, the value of inflation-protected securities will fall and the Fund's value may decline as a result of this exposure to these securities. The greatest risk occurs when interest rates rise and inflation declines.
  • Prepayment Risk. When homeowners prepay their mortgages in response to lower interest rates, the Fund will be required to reinvest the proceeds at the lower interest rates available. Also, when interest rates fall, the price of mortgage-backed securities may not rise to as great an extent as that of other fixed-income securities.
  • Credit Risk. It is possible that interest or principal on securities will not be paid when due. Such non-payment or default may reduce the value of the Fund's portfolio holdings, its share price and its performance.
  • Mortgage-Backed Securities Risk. Mortgage-backed securities (MBS) have unique risks. A rise in interest rates may cause the value of MBS held by the Fund to decline. MBS are subject to the risk that payments made on a security will not be made when due. Certain MBS issued by U.S. government-sponsored enterprises are not backed by the full faith and credit of the U.S. government.
  • Technology Risk. Proprietary and third party data and systems are utilized to support decision making for the Fund. Data imprecision, software or other technology malfunctions, programming inaccuracies and similar circumstances may impair the performance of these systems, which may negatively affect Fund performance.
The Shares offered by this Prospectus are not deposits or obligations of any bank, are not endorsed or guaranteed by any bank and are not insured or guaranteed by the U.S. government, the Federal Deposit Insurance Corporation, the Federal Reserve Board or any other government agency.
Risk Lose Money [Text] rr_RiskLoseMoney All mutual funds take investment risks. Therefore, it is possible to lose money by investing in the Fund.
Risk Not Insured Depository Institution [Text] rr_RiskNotInsuredDepositoryInstitution The Shares offered by this Prospectus are not deposits or obligations of any bank, are not endorsed or guaranteed by any bank and are not insured or guaranteed by the U.S. government, the Federal Deposit Insurance Corporation, the Federal Reserve Board or any other government agency.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading Performance: Bar Chart and Table

Risk/Return Bar Chart
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock The bar chart and performance table below reflect historical performance data for the Fund and are intended to help you analyze the Fund's investment risks in light of its historical returns. The bar chart shows the variability of the Fund's IS class total returns on a calendar year-by-year basis. The Average Annual Total Return Table shows returns for each class averaged over the stated periods, and includes comparative performance information. The Fund's performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results. Updated performance information for the Fund is available under the "Products" section at FederatedInvestors.com or by calling 1-800-341-7400.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The bar chart shows the variability of the Fund's IS class total returns on a calendar year-by-year basis.
Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone 1-800-341-7400
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress FederatedInvestors.com
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture The Fund's performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results.
Bar Chart [Heading] rr_BarChartHeading Federated U.S. Government Securities Fund: 2-5 Years - IS Class
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock Within the periods shown in the bar chart, the Fund's IS class highest quarterly return was 6.20% (quarter ended December 31, 2008). Its lowest quarterly return was (2.44)% (quarter ended June 30, 2004).
Performance Table Heading rr_PerformanceTableHeading Average Annual Total Return Table
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate After-tax returns are calculated using a standard set of assumptions. The stated returns assume the highest historical federal income and capital gains tax rates. These after-tax returns do not reflect the effect of any applicable state and local taxes.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred After-tax returns are not relevant to investors holding Shares through a 401(k) plan, an Individual Retirement Account or other tax-advantaged investment plan.
Performance Table One Class of after Tax Shown [Text] rr_PerformanceTableOneClassOfAfterTaxShown After-tax returns are shown only for IS class, and after-tax returns for R and SS classes will differ from those shown for IS class.
Performance Table Narrative rr_PerformanceTableNarrativeTextBlock In addition to Return Before Taxes, Return After Taxes is shown for the Fund's IS class to illustrate the effect of federal taxes on Fund returns. After-tax returns are shown only for IS class, and after-tax returns for R and SS classes will differ from those shown for IS class. Actual after-tax returns depend on each investor's personal tax situation, and are likely to differ from those shown. After-tax returns are calculated using a standard set of assumptions. The stated returns assume the highest historical federal income and capital gains tax rates. These after-tax returns do not reflect the effect of any applicable state and local taxes. After-tax returns are not relevant to investors holding Shares through a 401(k) plan, an Individual Retirement Account or other tax-advantaged investment plan.

(For the Period Ended December 31, 2012)
FEDERATED U S GOVERNMENT SECURITIES FUND 2-5 YEARS | R
 
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of original purchase price or redemption proceeds, as applicable) rr_MaximumDeferredSalesChargeOverOther none
Maximum Sales Charge (Load) Imposed on Reinvested Dividends (and other Distributions) (as a percentage of offering price) rr_MaximumSalesChargeOnReinvestedDividendsAndDistributionsOverOther none
Redemption Fee (as a percentage of amount redeemed, if applicable) rr_RedemptionFeeOverRedemption none
Exchange Fee rr_ExchangeFeeOverRedemption none
Management Fee rr_ManagementFeesOverAssets 0.40%
Distribution (12b-1) Fee rr_DistributionAndService12b1FeesOverAssets 0.50%
Other Expenses rr_OtherExpensesOverAssets 0.29%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.19%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets none [1]
Total Annual Fund Operating Expenses After Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 1.19%
1 Year rr_ExpenseExampleYear01 121
3 Years rr_ExpenseExampleYear03 378
5 Years rr_ExpenseExampleYear05 654
10 Years rr_ExpenseExampleYear10 1,443
1 Year rr_AverageAnnualReturnYear01 0.43%
5 Years rr_AverageAnnualReturnYear05 3.41%
10 Years rr_AverageAnnualReturnYear10 3.04%
FEDERATED U S GOVERNMENT SECURITIES FUND 2-5 YEARS | IS
 
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of original purchase price or redemption proceeds, as applicable) rr_MaximumDeferredSalesChargeOverOther none
Maximum Sales Charge (Load) Imposed on Reinvested Dividends (and other Distributions) (as a percentage of offering price) rr_MaximumSalesChargeOnReinvestedDividendsAndDistributionsOverOther none
Redemption Fee (as a percentage of amount redeemed, if applicable) rr_RedemptionFeeOverRedemption none
Exchange Fee rr_ExchangeFeeOverRedemption none
Management Fee rr_ManagementFeesOverAssets 0.40%
Distribution (12b-1) Fee rr_DistributionAndService12b1FeesOverAssets none
Other Expenses rr_OtherExpensesOverAssets 0.45%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.85%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets 0.27% [1]
Total Annual Fund Operating Expenses After Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 0.58%
1 Year rr_ExpenseExampleYear01 87
3 Years rr_ExpenseExampleYear03 271
5 Years rr_ExpenseExampleYear05 471
10 Years rr_ExpenseExampleYear10 1,049
2003 rr_AnnualReturn2003 2.22%
2004 rr_AnnualReturn2004 1.60%
2005 rr_AnnualReturn2005 0.87%
2006 rr_AnnualReturn2006 3.34%
2007 rr_AnnualReturn2007 9.18%
2008 rr_AnnualReturn2008 10.64%
2009 rr_AnnualReturn2009 0.28%
2009 rr_AnnualReturn2010 4.26%
2011 rr_AnnualReturn2011 4.67%
2012 rr_AnnualReturn2012 1.16%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel highest quarterly return
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Dec. 31, 2008
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 6.20%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel lowest quarterly return
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Jun. 30, 2004
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (2.44%)
1 Year rr_AverageAnnualReturnYear01 1.16%
5 Years rr_AverageAnnualReturnYear05 4.14%
10 Years rr_AverageAnnualReturnYear10 3.77%
FEDERATED U S GOVERNMENT SECURITIES FUND 2-5 YEARS | SS
 
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of original purchase price or redemption proceeds, as applicable) rr_MaximumDeferredSalesChargeOverOther none
Maximum Sales Charge (Load) Imposed on Reinvested Dividends (and other Distributions) (as a percentage of offering price) rr_MaximumSalesChargeOnReinvestedDividendsAndDistributionsOverOther none
Redemption Fee (as a percentage of amount redeemed, if applicable) rr_RedemptionFeeOverRedemption none
Exchange Fee rr_ExchangeFeeOverRedemption none
Management Fee rr_ManagementFeesOverAssets 0.40%
Distribution (12b-1) Fee rr_DistributionAndService12b1FeesOverAssets 0.05%
Other Expenses rr_OtherExpensesOverAssets 0.45%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.90%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets 0.09% [1]
Total Annual Fund Operating Expenses After Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 0.81%
1 Year rr_ExpenseExampleYear01 92
3 Years rr_ExpenseExampleYear03 287
5 Years rr_ExpenseExampleYear05 498
10 Years rr_ExpenseExampleYear10 1,108
1 Year rr_AverageAnnualReturnYear01 0.93%
5 Years rr_AverageAnnualReturnYear05 3.90%
10 Years rr_AverageAnnualReturnYear10 3.52%
FEDERATED U S GOVERNMENT SECURITIES FUND 2-5 YEARS | Return After Taxes on Distributions | IS
 
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 0.42%
5 Years rr_AverageAnnualReturnYear05 2.86%
10 Years rr_AverageAnnualReturnYear10 2.43%
FEDERATED U S GOVERNMENT SECURITIES FUND 2-5 YEARS | Return After Taxes on Distributions and Sale of Fund Shares | IS
 
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 0.82%
5 Years rr_AverageAnnualReturnYear05 2.83%
10 Years rr_AverageAnnualReturnYear10 2.45%
FEDERATED U S GOVERNMENT SECURITIES FUND 2-5 YEARS | BofA Merrill Lynch 3-5 Year Treasury Index (reflects no deduction for fees, expenses or taxes)
 
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 1.58% [2]
5 Years rr_AverageAnnualReturnYear05 4.90% [2]
10 Years rr_AverageAnnualReturnYear10 4.31% [2]
FEDERATED U S GOVERNMENT SECURITIES FUND 2-5 YEARS | Lipper Short U.S. Treasury Funds Average
 
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 0.32% [3]
5 Years rr_AverageAnnualReturnYear05 1.86% [3]
10 Years rr_AverageAnnualReturnYear10 2.28% [3]
FEDERATED U S GOVERNMENT SECURITIES FUND 2-5 YEARS | Lipper Short-Intermediate U.S. Government Funds Average
 
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 1.72% [4]
5 Years rr_AverageAnnualReturnYear05 3.86% [4]
10 Years rr_AverageAnnualReturnYear10 3.31% [4]
[1] Total Annual Fund Operating Expenses for the Fund's R class have been restated to reflect an anticipated decrease in Other Expenses. Effective April 1, 2013, the Adviser and its affiliates have voluntarily agreed to waive their fees and/or reimburse expenses so that the total annual fund operating expenses (excluding Acquired Fund Fees and Expenses, if any) paid by the Fund's R, IS and SS classes (after the voluntary waivers and/or reimbursements) will not exceed 1.22%, 0.58% and 0.81% (the "Fee Limit"), respectively, up to but not including the later of (the "Termination Date"): (a) April 1, 2014; or (b) the date of the Fund's next effective Prospectus. While the Adviser and its affiliates currently do not anticipate terminating or increasing these arrangements prior to the Termination Date, these arrangements may only be terminated or the Fee Limit increased prior to the Termination Date with the agreement of the Fund's Board of Trustees.
[2] BofA Merrill Lynch 3-5 Year Treasury Index is an unmanaged index tracking U.S. treasury securities with maturities of 3 to 4.99 years.
[3] Lipper Short U.S. Treasury Funds Average is an average of funds with similar investment objectives.
[4] Lipper Short-Intermediate U.S. Government Funds Average is an average of funds with similar investment objectives.
XML 12 R2.htm IDEA: XBRL DOCUMENT v2.4.0.6
FEDERATED U S GOVERNMENT SECURITIES FUND 2-5 YEARS
Federated U.S. Government Securities Fund: 2-5 Years (the "Fund")
RISK/RETURN SUMMARY: INVESTMENT OBJECTIVE
The Fund's investment objective is current income.
RISK/RETURN SUMMARY: FEES AND EXPENSES
This table describes the fees and expenses that you may pay if you buy and hold Class R Shares (R), Institutional Shares (IS) and Service Shares (SS) of the Fund.
Shareholder Fees (fees paid directly from your investment)
Shareholder Fees FEDERATED U S GOVERNMENT SECURITIES FUND 2-5 YEARS
R
IS
SS
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) none none none
Maximum Deferred Sales Charge (Load) (as a percentage of original purchase price or redemption proceeds, as applicable) none none none
Maximum Sales Charge (Load) Imposed on Reinvested Dividends (and other Distributions) (as a percentage of offering price) none none none
Redemption Fee (as a percentage of amount redeemed, if applicable) none none none
Exchange Fee none none none
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Annual Fund Operating Expenses FEDERATED U S GOVERNMENT SECURITIES FUND 2-5 YEARS
R
IS
SS
Management Fee 0.40% 0.40% 0.40%
Distribution (12b-1) Fee 0.50% none 0.05%
Other Expenses 0.29% 0.45% 0.45%
Total Annual Fund Operating Expenses 1.19% 0.85% 0.90%
Fee Waivers and/or Expense Reimbursements [1] none 0.27% 0.09%
Total Annual Fund Operating Expenses After Fee Waivers and/or Expense Reimbursements 1.19% 0.58% 0.81%
[1] Total Annual Fund Operating Expenses for the Fund's R class have been restated to reflect an anticipated decrease in Other Expenses. Effective April 1, 2013, the Adviser and its affiliates have voluntarily agreed to waive their fees and/or reimburse expenses so that the total annual fund operating expenses (excluding Acquired Fund Fees and Expenses, if any) paid by the Fund's R, IS and SS classes (after the voluntary waivers and/or reimbursements) will not exceed 1.22%, 0.58% and 0.81% (the "Fee Limit"), respectively, up to but not including the later of (the "Termination Date"): (a) April 1, 2014; or (b) the date of the Fund's next effective Prospectus. While the Adviser and its affiliates currently do not anticipate terminating or increasing these arrangements prior to the Termination Date, these arrangements may only be terminated or the Fee Limit increased prior to the Termination Date with the agreement of the Fund's Board of Trustees.
Example
This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

The Example assumes that you invest $10,000 for the time periods indicated and then redeem all of your Shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that operating expenses are as shown in the table above and remain the same. Although your actual costs and returns may be higher or lower, based on these assumptions your costs would be:
Expense Example FEDERATED U S GOVERNMENT SECURITIES FUND 2-5 YEARS (USD $)
1 Year
3 Years
5 Years
10 Years
R
121 378 654 1,443
IS
87 271 471 1,049
SS
92 287 498 1,108
Portfolio Turnover
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund Shares are held in a taxable account. These costs, which are not reflected in Annual Fund Operating Expenses or in the Example, affect the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 187% of the average value of its portfolio.
RISK/RETURN SUMMARY: INVESTMENTS, RISKS and PERFORMANCE

What are the Fund's Main Investment Strategies?
The Fund's overall strategy is generally to invest in a portfolio consisting of U.S. Treasury securities and U.S. government agency securities with maturities of not less than two years and not more than five years. The Fund may also use derivative contracts and/or hybrid instruments to implement elements of it strategies. The Fund buys and sells portfolio securities based primarily on its market outlook and analysis of how securities may perform under different market conditions. The Fund evaluates its investment strategy by comparing the performance and composition of the Fund's portfolio to the performance and composition of Bank of America Merrill Lynch 3-5 Year Treasury Index, an index composed of U.S. Treasury notes and bonds with maturities greater than or equal to three years and less than five years.

U.S. government securities also may be offered on a delayed delivery basis. The Fund will enter into delayed delivery transactions, including when-issued transactions, in order to participate in these offerings or trade these securities. The Fund may also seek to increase its income by lending its portfolio securities.

Certain of the government securities in which the Fund invests are not backed by the full faith and credit of the U.S. government, such as those issued by the Federal Home Loan Mortgage Corporation (Freddie Mac), the Federal National Mortgage Association (Fannie Mae), and the Federal Home Loan Bank System. These entities are, however, supported through federal subsidies, loans or other benefits. The Fund may also invest in government securities that are supported by the full faith and credit of the U.S. government, such as those issued by the Government National Mortgage Association (Ginnie Mae). Finally, the Fund may invest in a few government securities that have no explicit financial support, but which are regarded as having implied support because the federal government sponsors their activities.

The Fund may also purchase bonds from the U.S. government backed by the Federal Deposit Insurance Corporation (FDIC).

During extreme market conditions such as a zero yield environment, the Fund may invest in government mortgage-backed securities as a temporary investment. The government mortgage-backed securities in which the Fund may invest are government mortgage-backed securities such as those issued by Ginnie Mae, Fannie Mae and Freddie Mac.

Because the Fund refers to U.S. government securities in its name, it will notify shareholders at least 60 days in advance of any change in its investment policies that would enable the Fund to invest, under normal circumstances, less than 80% of its assets (plus any borrowings for investment purposes) in U.S. government investments.
What are the Main Risks of Investing in the Fund?
All mutual funds take investment risks. Therefore, it is possible to lose money by investing in the Fund. The primary factors that may reduce the Fund's returns include:
  • Interest Rate Risk. Prices of fixed-income securities generally fall when interest rates rise, which may result in a decrease in the value of Fund Shares.
  • Liquidity Risk. Trading opportunities are more limited for fixed-income securities that have not received any credit ratings, have received ratings below investment grade or are not widely held. These features may make it more difficult to sell or buy a security at a favorable price or time. Consequently, the Fund may have to accept a lower price to sell a security, sell other securities to raise cash or give up an investment opportunity, any of which could have a negative effect on the Fund's performance. Infrequent trading of securities may also lead to an increase in their price volatility. Liquidity risk also refers to the possibility that the Fund may not be able to sell a security or close out a derivative contract when it wants to. If this happens, the Fund will be required to continue to hold the security or keep the position open, and the Fund could incur losses. Over-the-counter (OTC) derivative contracts generally carry greater liquidity risk than exchange-traded contracts.
  • Leverage Risk. Leverage risk is created when an investment, which includes, for example, an investment in a derivative contract, exposes the Fund to a level of risk that exceeds the amount invested. Changes in the value of such an investment magnify the Fund's risk of loss and potential for gain. Investments can have these same results if their returns are based on a multiple of a specified index, security or other benchmark.
  • Risk of Investing in Derivative Contracts and Hybrid Instruments. Derivative contracts and hybrid instruments involve risks different from, or possibly greater than, risks associated with investing directly in securities and other traditional investments. Specific risk issues related to the use of such contracts and instruments include valuation and tax issues, increased potential for losses and/or costs to the Fund and a potential reduction in gains to the Fund. Each of these issues is described in greater detail in this Prospectus. Derivative contracts and hybrid instruments may also involve other risks described in this Prospectus or the Fund's Statement of Additional Information (SAI), such as interest rate, credit, liquidity and leverage risks.
  • Risk of Investing in Inflation-Protected Securities. The value of inflation-protected securities is subject to the effects of changes in market interest rates caused by factors other than inflation ("real interest rates"). If interest rates rise due to reasons other than inflation, the Fund's investment in these securities may not be protected to the extent that the increase is not reflected in the security's inflation measure. Generally, when real interest rates rise, the value of inflation-protected securities will fall and the Fund's value may decline as a result of this exposure to these securities. The greatest risk occurs when interest rates rise and inflation declines.
  • Prepayment Risk. When homeowners prepay their mortgages in response to lower interest rates, the Fund will be required to reinvest the proceeds at the lower interest rates available. Also, when interest rates fall, the price of mortgage-backed securities may not rise to as great an extent as that of other fixed-income securities.
  • Credit Risk. It is possible that interest or principal on securities will not be paid when due. Such non-payment or default may reduce the value of the Fund's portfolio holdings, its share price and its performance.
  • Mortgage-Backed Securities Risk. Mortgage-backed securities (MBS) have unique risks. A rise in interest rates may cause the value of MBS held by the Fund to decline. MBS are subject to the risk that payments made on a security will not be made when due. Certain MBS issued by U.S. government-sponsored enterprises are not backed by the full faith and credit of the U.S. government.
  • Technology Risk. Proprietary and third party data and systems are utilized to support decision making for the Fund. Data imprecision, software or other technology malfunctions, programming inaccuracies and similar circumstances may impair the performance of these systems, which may negatively affect Fund performance.
The Shares offered by this Prospectus are not deposits or obligations of any bank, are not endorsed or guaranteed by any bank and are not insured or guaranteed by the U.S. government, the Federal Deposit Insurance Corporation, the Federal Reserve Board or any other government agency.
Performance: Bar Chart and Table

Risk/Return Bar Chart
The bar chart and performance table below reflect historical performance data for the Fund and are intended to help you analyze the Fund's investment risks in light of its historical returns. The bar chart shows the variability of the Fund's IS class total returns on a calendar year-by-year basis. The Average Annual Total Return Table shows returns for each class averaged over the stated periods, and includes comparative performance information. The Fund's performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results. Updated performance information for the Fund is available under the "Products" section at FederatedInvestors.com or by calling 1-800-341-7400.
Federated U.S. Government Securities Fund: 2-5 Years - IS Class
Bar Chart
Within the periods shown in the bar chart, the Fund's IS class highest quarterly return was 6.20% (quarter ended December 31, 2008). Its lowest quarterly return was (2.44)% (quarter ended June 30, 2004).
Average Annual Total Return Table
In addition to Return Before Taxes, Return After Taxes is shown for the Fund's IS class to illustrate the effect of federal taxes on Fund returns. After-tax returns are shown only for IS class, and after-tax returns for R and SS classes will differ from those shown for IS class. Actual after-tax returns depend on each investor's personal tax situation, and are likely to differ from those shown. After-tax returns are calculated using a standard set of assumptions. The stated returns assume the highest historical federal income and capital gains tax rates. These after-tax returns do not reflect the effect of any applicable state and local taxes. After-tax returns are not relevant to investors holding Shares through a 401(k) plan, an Individual Retirement Account or other tax-advantaged investment plan.

(For the Period Ended December 31, 2012)
Average Annual Total Returns FEDERATED U S GOVERNMENT SECURITIES FUND 2-5 YEARS
1 Year
5 Years
10 Years
R
0.43% 3.41% 3.04%
IS
1.16% 4.14% 3.77%
IS Return After Taxes on Distributions
0.42% 2.86% 2.43%
IS Return After Taxes on Distributions and Sale of Fund Shares
0.82% 2.83% 2.45%
SS
0.93% 3.90% 3.52%
BofA Merrill Lynch 3-5 Year Treasury Index (reflects no deduction for fees, expenses or taxes)
[1] 1.58% 4.90% 4.31%
Lipper Short U.S. Treasury Funds Average
[2] 0.32% 1.86% 2.28%
Lipper Short-Intermediate U.S. Government Funds Average
[3] 1.72% 3.86% 3.31%
[1] BofA Merrill Lynch 3-5 Year Treasury Index is an unmanaged index tracking U.S. treasury securities with maturities of 3 to 4.99 years.
[2] Lipper Short U.S. Treasury Funds Average is an average of funds with similar investment objectives.
[3] Lipper Short-Intermediate U.S. Government Funds Average is an average of funds with similar investment objectives.
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XML 15 R1.htm IDEA: XBRL DOCUMENT v2.4.0.6
Document and Entity Information
12 Months Ended
Mar. 31, 2013
Risk/Return:  
Document Type 485BPOS
Document Period End Date Jan. 31, 2013
Registrant Name FEDERATED U S GOVERNMENT SECURITIES FUND 2-5 YEARS
Central Index Key 0000357159
Amendment Flag false
Document Creation Date Mar. 27, 2013
Document Effective Date Mar. 28, 2013
Prospectus Date Mar. 31, 2013
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